Insider Selling: Mancil J. Sanders Unloads 19,770 Shares of Sonoco Products Company Stock (SON)
Sonoco Products Company (NYSE:SON) CEO Mancil J. Sanders unloaded 19,770 shares of Sonoco Products Company stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.50, for a total transaction of $800,685.00. Following the sale, the chief executive officer now directly owns 31,783 shares of the company’s stock, valued at approximately $1,287,212. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Sonoco Products Company (NYSE:SON) traded down 0.22% during mid-day trading on Thursday, hitting $40.86. 187,217 shares of the company’s stock traded hands. Sonoco Products Company has a one year low of $36.59 and a one year high of $44.65. The stock has a 50-day moving average of $40.68 and a 200-day moving average of $41.64. The company has a market cap of $4.157 billion and a P/E ratio of 18.45.
Sonoco Products Company (NYSE:SON) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.63 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $0.59 earnings per share. Sonoco Products Company’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Sonoco Products Company will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Wednesday, August 13th.
Several analysts have recently commented on the stock. Analysts at Vertical Research upgraded shares of Sonoco Products Company to a “buy” rating in a research note on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products Company in a research note on Wednesday, August 13th. They now have a $42.00 price target on the stock. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Sonoco Products Company in a research note on Friday, July 18th. They now have a $44.00 price target on the stock, down previously from $45.00. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.44.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services, with 347 locations in 34 countries.
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